Aralez Pharmaceuticals Inc. (ARLZ) shares are trading at 0.04. The stock plummeted after the company announced that it has filed for Chapter 11 bankruptcy. The plan for Aralez is to sell all of its assets for $250 million.
Here is how Aralez assets will be divided. Nuvo Pharmaceuticals will purchase the royalties to NSAID VIMOVO (naproxen/esomeprazole) for $110 million in cash, financed by Deerfield Management, while certain funds affiliated with Deerfield will buy its TOPROL-XL (metoprolol succinate) franchise (high blood pressure med) for $140 million. There is limited interest in the remaining assets.
Here is how Aralez assets will be divided. Nuvo Pharmaceuticals will purchase the royalties to NSAID VIMOVO (naproxen/esomeprazole) for $110 million in cash, financed by Deerfield Management, while certain funds affiliated with Deerfield will buy its TOPROL-XL (metoprolol succinate) franchise (high blood pressure med) for $140 million. There is limited interest in the remaining assets.
